KKR Real Estate Finance Trust (NYSE:KREF) Given Consensus Rating of “Reduce” by Brokerages

KKR Real Estate Finance Trust (NYSE:KREF) has been assigned an average recommendation of “Reduce” from the eight analysts that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $8.40.

Several research analysts have recently commented on the company. Citigroup downgraded KKR Real Estate Finance Trust from a “neutral” rating to a “market perform” rating in a research note on Monday, April 27th. Weiss Ratings reiterated a “sell (d)” rating on shares of KKR Real Estate Finance Trust in a research note on Tuesday, April 21st. Zacks Research downgraded KKR Real Estate Finance Trust from a “hold” rating to a “strong sell” rating in a research report on Monday, May 11th. Citizens Jmp lowered KKR Real Estate Finance Trust from an “outperform” rating to a “market perform” rating in a research note on Monday, April 27th. Finally, Wells Fargo & Company lowered their target price on KKR Real Estate Finance Trust from $9.00 to $7.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 28th.

KKR Real Estate Finance Trust Stock Performance

Shares of NYSE KREF opened at $6.94 on Monday. The company has a current ratio of 407.64, a quick ratio of 407.64 and a debt-to-equity ratio of 3.90. KKR Real Estate Finance Trust has a 12 month low of $5.25 and a 12 month high of $9.98. The stock has a 50 day moving average of $6.44 and a 200-day moving average of $7.31. The company has a market capitalization of $446.37 million, a P/E ratio of -3.73 and a beta of 0.84.

KKR Real Estate Finance Trust (NYSE:KREF) last issued its earnings results on Wednesday, April 22nd. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.11 by ($0.17). KKR Real Estate Finance Trust had a negative return on equity of 0.78% and a negative net margin of 23.55%.The business had revenue of $20.89 million for the quarter, compared to the consensus estimate of $28.76 million. As a group, equities research analysts predict that KKR Real Estate Finance Trust will post -1.63 EPS for the current year.

KKR Real Estate Finance Trust Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a dividend of $0.10 per share. The ex-dividend date is Tuesday, June 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.8%. KKR Real Estate Finance Trust’s dividend payout ratio (DPR) is -21.51%.

Insider Buying and Selling

In other news, COO W Patrick Mattson bought 40,000 shares of the stock in a transaction dated Friday, April 24th. The shares were bought at an average price of $6.03 per share, for a total transaction of $241,200.00. Following the completion of the purchase, the chief operating officer owned 500,287 shares in the company, valued at approximately $3,016,730.61. This trade represents a 8.69% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Matthew A. Salem bought 60,000 shares of the stock in a transaction dated Friday, April 24th. The shares were purchased at an average price of $6.04 per share, for a total transaction of $362,400.00. Following the purchase, the chief executive officer owned 703,075 shares of the company’s stock, valued at $4,246,573. This trade represents a 9.33% increase in their position. The disclosure for this purchase is available in the SEC filing. 2.12% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On KKR Real Estate Finance Trust

A number of large investors have recently made changes to their positions in KREF. Millennium Management LLC increased its stake in shares of KKR Real Estate Finance Trust by 25.9% during the first quarter. Millennium Management LLC now owns 353,216 shares of the company’s stock worth $3,815,000 after purchasing an additional 72,566 shares during the period. Caxton Associates LLP bought a new position in shares of KKR Real Estate Finance Trust during the first quarter worth approximately $288,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in KKR Real Estate Finance Trust by 317.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 204,589 shares of the company’s stock worth $2,210,000 after buying an additional 155,553 shares in the last quarter. Jane Street Group LLC grew its position in KKR Real Estate Finance Trust by 72.1% during the first quarter. Jane Street Group LLC now owns 172,162 shares of the company’s stock worth $1,859,000 after buying an additional 72,140 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in KKR Real Estate Finance Trust during the first quarter worth approximately $66,000. Institutional investors own 70.23% of the company’s stock.

KKR Real Estate Finance Trust Company Profile

KKR Real Estate Finance Trust, Inc (NYSE: KREF) is a mortgage real estate investment trust sponsored by KKR & Co Inc The company focuses on originating, acquiring, financing and managing a diversified portfolio of commercial real estate debt and real estate-related assets across the United States and select European markets.

The trust’s investment strategy is centered on lending to high-quality office, industrial, retail, multifamily and hotel properties. Its portfolio primarily consists of senior mortgage loans, mezzanine loans, floating-rate debt securities and preferred equity positions.